Compound annual growth rates (CAGRs) are expected to be 18 percent and 16 percent, respectively, during the next five years.
Online advertising is taking a larger proportion of budgets than in past years, but won’t replace traditional advertising.
“Although traditional media such as newspaper and local broadcast are facing new challenges regarding their business models, local advertising in these media mainstays is not a dying market. The ability to assemble relatively larger general audiences will remain a principal advantage of traditional media.”
- Lead Analyst Barry Parr, Media Analyst for JupiterResearch
Small businesses are still catching on to using SEO techniques to rank higher on Internet searches in local areas. They’ll continue to learn about how they can advertise online. There is a bit of a learning curve for businesses, but once their competition is online, they will start focusing more on Internet marketing.